Asking Price: $280,000 Gross Revenue: $1,779,387Cash Flow: $160,942 (Seller's Discretionary Earnings) EBITDA: Not DisclosedInventory: $150,000 not included in asking priceFF&E: $70,000 included in asking priceReal Estate: Not Disclosed Share this business:
Explanation of Financial Terms
The total asking price of the business for sale.
All income the business received before any cost-of-sales or expenses have been deducted.
Arrived at by "starting with your net (before tax) profit. Then, add back in any payments made to the owner, interest and any depreciation of assets." For example, if the net profit before taxes was $100,000 and the owner was paid $70,000 then the cash flow is $170,000.
Earnings Before Interest, Taxes, Depreciation and Amortization.
The value of the merchandise, raw materials, and finished and unfinished products which have not yet been sold. If there is no inventory price listed then the seller did not provide it.
Furniture, fixtures and equipment that will remain with the business, such as desks, office cubicles, decor elements of a restaurant or showroom, computers and office machines, pots and pans, dishes, display cases, manufacturing equipment, etc., depending on the type of business.
The value of property owned by the business. May be included in the asking price or offered separately. If no real estate value is listed, it was not provided by the seller.
After more than 10 years of consistently profitable business they loved and started, the owners are ready to retire. The primary business is the retail sales of Corvettes and Classic Cars, but also performs service, mainenance and restorations with total annual revenue of about $2 million. Housed in an 11,000 square foot leased facility, the location has excellent roadway exposure on a major interstate expressway (Route I-55). The strong existing customer base, historical performance and well-trained staff makes this an opportunity that must be explored by entrepreneurs, investment companies or as an addition to an existing auto group company. Being one of three coast to coast locations, Corvette Mike has a very strong name recognition as well as an outstanding reputation for the quality of sales and services they provide. Asking price excludes inventory.
Profitable Classic Car Business Ready for Next Owner
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